RTTNews | Apr 22, 2021 01:25AM EDT

01:24 Thursday, April 22, 2021 (RTTNews.com) - SAP SE (SAP) reported that its profit after tax for the first quarter ended March 31, 2021 rose 32 percent to 1.07 billion euros from last year's 811 million euros, with earnings per basic share improving 29 percent to 0.88 euros from the prior year.

On a non-IFRS basis, earnings per basic share increased 63% to 1.40 euros from the previous year, reflecting strong contribution from Sapphire Ventures.

But, total revenues for the first-quarter declined to 6.35 billion euros from 6.52 billion euros in the previous year.

SAP proposed a dividend of 1.85 euros per share for fiscal year 2020 representing a year-over-year increase of 0.27 euros or 17%. The dividend is subject to shareholder approval at the upcoming AGM to be held on May 12, 2021.

SAP raised its full-year 2021 outlook on April 13 reflecting the strong new cloud business performance which is expected to reaccelerate cloud revenue growth.

The company continues to expect a software licenses revenue decline for the full year as more customers turn to the "RISE with SAP" subscription offering for their mission-critical core processes.

For 2021, SAP now expects non-IFRS operating profit, at constant currencies basis, to be in the range of 7.8 billion euros - 8.2 billion euros, down 1% to 6% at constant currencies.

SAP now expects 9.2 billion euros - 9.5 billion euros in 2021 non-IFRS cloud revenue at constant currencies, up 14% to 18% at constant currencies. The previous range was 9.1 billion euros - 9.5 billion euros at constant currencies.

The company now projects 23.4 billion euros - 23.8 billion euros in 2021 non-IFRS cloud and software revenue at constant currencies, up 1% to 2% at constant currencies. The previous range was 23.3 billion euros - 23.8 billion euros at constant currencies.

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